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| Exchange Disseminated Time | Saregama India Ltd has informed BSE that in the limited review report of the Company for the quarter ended June 30, 2007, the Auditors of the Company have made the following observations:
"The Auditors invite attention to the following:
1. Note 3 to the accompanying Statement of un-audited financial results regarding recoverability of inter corporate deposit including interest accrued thereon. (book balance - Rs 824 lakhs) from a body corporate. From the available information, auditors are unable to comment on the extent of recoverability of the aforesaid deposit including accrued interest thereon and the consequential impact, if any, on the Company's financial results for the quarter ended June 30, 2007.
2. As explained by the Company, additional and / or differential employee benefits which may arise on or after April 01, 2007 in keeping with the provisions of Accounting Standard - 15 (revised 2005) on 'Employee Benefits' are yet to be ascertained / accounted for by the Company. Accordingly, we are unable to comment on the impact, if any, on the Company's financial results for the quarter ended June 30, 2007." |
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